Abby Reed discussed the tax implications of selling a primary residence. Many people don't know that this can potentially be tax-free income. Abby provides insight on the Section 121 Exclusion, which allows individuals to exclude up to $250,000 (or $500,000 for joint filers) from capital gains when selling their primary residence. Abby Reed also discussed the benefits of tax planning for investment properties, such as transferring funds from one property to another to reduce taxation. We hope you enjoyed this edition of "Ask Abby" . For more information, contact Abby Reed at Reed Financial Group, (678) 442-0255 or visit the website at GoAskAbby.com
